Fees for state’s college savings plan reduced

JACKSON — With over $114 million invested and more than 10,000 Mississippi Affordable College Savings Plan (MACS) accounts as of Sept. 1, the program is now offering lower fees for the 529 college savings plan, according to State Treasurer Tate Reeves.

Effective yesterday, MACS fees were reduced by as much as 27 percent. MACS now offers fees as low as 0.65 percent.

“During our contract negotiations, we extended our relationship with TIAA-CREF Tuition Financing Inc., and we were able to acquire fee reductions that will benefit existing and future MACS customers,” Reeves said.

In addition to lower fees, MACS has also launched a new website, www.MS529.com, with improved navigation, a new look and new features to make managing accounts easier. Account owners may now manage their account online, make online withdrawals and elect e-delivery of statements and disclosure materials.

MACS has also updated its logo. The new MACS logo complements the branding for College Savings Mississippi – the overarching program that offers MACS and Mississippi’s pre-paid college savings program, MPACT.

The State of Mississippi offers both MACS and MPACT to provide Mississippi families two unique ways to save for college.